There is a lot happening in the “starter” price range for single family homes in Boulder County. Let’s take a look at two key real estate factors in the $300,000-$400,000 price range. First, let’s look at the % of active listings currently under contract. In a “healthy” stable market 30-40% of active listings are under contract. Check out the numbers below!
City: List Price by Range – % of listings currently under contract (U/C)
Boulder: $300,000-$400,000 – 62% U/C Louisville: $300,000-$400,000 – 65% U/C Superior: $300,000-$400,000 – 75% U/C Lafayette: $300,000-$400,000 – 43% U/C Longmont: $300,000-$400,000 – 45% U/C
The takeaway from all this is…in many cities (especially Boulder, Louisville, and Superior, we have a “Seller’s” market right now.
Also, let’s look at the absorption rate (which is the rate at which homes are selling in a specific area). A balanced market’s absorption rate is typically between 5 – 7 months.
Boulder: $300,000-$400,000 – 2 months of inventory Louisville: $300,000-$400,000 – 1.5 months of inventory Superior: $300,000-$400,000 – 1 month of inventory Lafayette: $300,000-$400,000 – 5 months of inventory Longmont: $300,000-$400,000 – 5.5 months of inventory
Think about this data. This is why you need to think and act fast if you are looking for a home in this price range. If you are looking to buy make sure you have a Realtor who watches the market daily (every few hours these days). You don’t want to miss out on that great new listing that matches your needs!
Curious about another price range? Contact me and I’d be happy to run those numbers for you.